Business
Industrialist Tasks FG On Food Processing, Cement Production
An industrialist, Chief Ndukwe Iko, on Thursday urged the Federal Government to muster the political will to harness the country’s potential in food processing and cement production.
Iko, the Managing Director of Task International Ltd., an industrial installation and factory building firm in Lagos, made the call in an interview with newsmen in Umuahia.
He said that more than 20 million jobs would be created if government could harness the abundant potential in food processing and production of cement.
“Nigerians produce a lot of foods, but due to inadequate investment in food processing factories, most of these foods rot away yearly.
“We also have commercial deposit of limestone in most states like Benue, Kogi, Abia, Ebonyi and Enugu states.
“What is needed now is government’s political will to exploit these opportunities, “ he said.
Iko said government’s privatisation drive should not undermine its efforts at creating conducive environment for the manufacturing sector to thrive.
“In most developed nations, government provides a lot of incentives for investors because that is the sure way to attract huge investments into the local economy’’, he said.
Iko said that there were much gains for government in massive investment in cement production, adding that it would also “step up“ the standard of living in Nigeria.
“A lot of Nigerians cannot afford a house because of the level of government’s investment in the housing sub-sector, “ he said.
He said with two billion naira, a moderate cement factory could be built, while N10 billion could build a world class cement factory.
“Investment in cement manufacturing is highly profitably.
“With less than N400, you can produce and recover your investment in less than four years’’, he said
Business
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Business
Senate Orders NAFDAC To Ban Sachet Alcohol Production by December 2025 ………Lawmakers Warn of Health Crisis, Youth Addiction And Social Disorder From Cheap Liquor
The upper chamber’s resolution followed an exhaustive debate on a motion sponsored by Senator Asuquo Ekpenyong (Cross River South), during its sitting, last Thursday.
He warned that another extension would amount to a betrayal of public trust and a violation of Nigeria’s commitment to global health standards.
Ekpenyong said, “The harmful practice of putting alcohol in sachets makes it as easy to consume as sweets, even for children.
“It promotes addiction, impairs cognitive and psychomotor development and contributes to domestic violence, road accidents and other social vices.”
Senator Anthony Ani (Ebonyi South) said sachet-packaged alcohol had become a menace in communities and schools.
“These drinks are cheap, potent and easily accessible to minors. Every day we delay this ban, we endanger our children and destroy more futures,” he said.
Senate President, Godswill Akpabio, who presided over the session, ruled in favour of the motion after what he described as a “sober and urgent debate”.
Akpabio said “Any motion that concerns saving lives is urgent. If we don’t stop this extension, more Nigerians, especially the youth, will continue to be harmed. The Senate of the Federal Republic of Nigeria has spoken: by December 2025, sachet alcohol must become history.”
According to him, “This is not just about alcohol regulation. It is about safeguarding the mental and physical health of our people, protecting our children, and preserving the future of this nation.
“We cannot allow sachet alcohol to keep destroying lives under the guise of business.”
According to him, “This is not just about alcohol regulation. It is about safeguarding the mental and physical health of our people, protecting our children, and preserving the future of this nation.
“We cannot allow sachet alcohol to keep destroying lives under the guise of business.”
Business
PHCCIMA Leadership Hails Rivers Commerce Commissioner for Boosting Business Ties …..Urges Deeper Collaboration to Ignite Economic Growth
